MOSCOW, June 6 (RIA Novosti) - Russia's Central Bank said Tuesday that strengthening the nominal ruble rate against a bi-currency basket is unnecessary in the short term.
"We have made a rather big step already, and there is no pressing need to strengthen the ruble in the short term," First Deputy Chairman Alexei Ulyukayev said, although he added that the bank's further moves would depend on the circumstances at the time.
Media reports said earlier the dollar had depreciated by 34 kopeks at the Moscow Interbank Currency Exchange (MICEX) trading sessions on June 2 and 5, dropping to below 26.8 rubles, a record low in recent years. Experts said the Central Bank's policy for a stronger ruble was one of the reasons for the dollar depreciation.
